Thursday, August 20, 2009
Against the odds, 500 Amherst closed today
I represented the buyers in the purchase of 500 Amherst Dr. in Burbank, which closed today. We never thought it would. The house was on the market for $985,000 for months. The sellers had several offers, and even had it in escrow once before us. My clients bought it for $910k, which I thought was still a little high, but it appraised just fine. And we even cancelled the escrow once. But the real estate Gods apparently wanted my buyers to have this, and thanks to everybody's patience this has happened.
Architecturally, the home is a little different -- most homes in the neighborhood are traditional, not contemporary. And for such a big home (3800+ sf), it only has two bedrooms. That's right. Two. The entire upstairs is one massive master suite. And it was last redone in the early 1960's. The decor is straight out of Mad Men, complete with pinch-pleat drapes, wallpaper, a built-in high-fi cabinet, and lots of wood paneling. Nevertheless, there is something really charming about it, and the backyard is huge and gorgeous (it has drainage issues, but that's another story).
My clients are extremely creative and I look forward to seeing exactly what they do with this.